Pending sales saw the sole gain this June in the Portland metro area. At 3,083, pending sales rose 0.8% compared with June of last year (3,059), despite decreasing 6.3% from last month (3,292).

New listings (4,281) fell 5.2% short of the 4,515 new listings offered last year in June and 12.7% from last month (4,902).

Closed sales performed similarly, ending 6.4% under the 2,946 closings recording in June of last year and 7.2% below the closings from last month (2,969).

Inventory rose slightly to 2.4 months in June. Total market time decreased to 42 days in the same period. There were 6,735 active residential listings in the Portland metro area in June.

Comparing 2019 to 2018 through June, the average sale price has increased 0.7% from $453,400 to $456,700. In the same comparison, the median sale price has increased 1.8% from $400,000 to $407,000.